Bojangles' Famous Chicken 'n Biscuits
Bojangles' Inc. is a Southeastern United States regional chain of fast food restaurants, specializing in cajun seasoning, fried chicken, and buttermilk biscuits. The company was founded in Charlotte, North Carolina in 1977 by Jack Fulk and Richard Thomas.
|Headquarters||Charlotte, North Carolina|
Number of locations
440 franchised, 319 company-owned(Dec 30, 2018)
|Southeastern United States|
|Products||Fast food, including fried chicken, biscuits, french fries|
|Revenue||US$ 1.28billion (2017)|
|Owner||The Jordan Company|
Durational Capital Management
Bojangles' opened its first location in Charlotte in 1977. The following year, the first franchised restaurant began operations.
During the time of Horn and Hardart's ownership, the chain grew rapidly and expanded to 335 restaurants including 100 restaurants in Florida. Part of this growth was fueled by acquisitions including the Florida-based Biscuits chain.
In 1990, Horn and Hardart sold most of its interest to Sienna Partners and Interwest Partners. The company was then headed by former KFC executive, Dick Campbell. In 1994 the company attempted a public offering. Campbell was subsequently replaced by CEO Jim Peterson. The company was sold to a group of investors headed by former Wendy's executive Joe Drury and financed by FMAC in 1998.
Bojangles' expanded throughout the 1990s and 2000s, with the 300th location opening in 2003. The restaurant started its first college campus location on the grounds of Central Piedmont Community College in 2005. The company also purchased naming rights to the original Charlotte Coliseum on Independence Boulevard in Charlotte.
Bojangles' was purchased again in 2007 by Falfurrias Capital Partners, a private equity firm. The first airport location was opened in 2008 at the Charlotte Douglas International Airport. In August 2011, Falfurrias sold Bojangles' to Boston-based Advent International, another private equity firm, after a competitive bidding process with other investors.
In January 2019, Randy Kibler was replaced by Jose Armario as the Chief Executive Officer and brought with him Brian Unger, to serve as the Chief Operating Officer. Both individuals were past employees of McDonald's.
On January 28, 2019, Bojangles' was acquired by the Jordan Company and Durational Capital Management (making Bojangles' a privately-held company) with Bojangels' shareholders receiving $ 16.10 a share after their approval on January 14, 2019.
The company operated restaurants in 12 states and the District of Columbia. At various times Bojangles' has franchised restaurants in Grand Cayman Island, Jamaica, Honduras, Mexico, Ireland, and China.
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- "Bojangles', Inc., Durational Capital Management and The Jordan Company Complete Acquisition". GlobeNewswire (Press release). January 28, 2019. Retrieved July 27, 2019.
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- Rivera, Michael (January 14, 2019). "Bojangles' receives stockholders approval for acquisition". Verdict Food service. Retrieved July 27, 2019.